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Specialist Legal Accountant in London, UK
At ABM Chartered Accountants, we provide expert legal accounting services adapted to the needs of law firms, lawyers, barristers, legal partnerships, and LLPs across the UK. Our specialist legal accountants make sure your firm remains compliant with SRA Accounts Rules, manages client money correctly, and maintains complete financial transparency.
- Professional bookkeeping & reporting
- SRA Accounts Rules compliance
- Payroll & partner compensation
- Profit-share & partner accounting
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Role Of Legal Accounting In Law Firms
Accountants for law firms are specialists who understand the regulatory, financial, and operational requirements unique to the legal sector. Unlike general accountants, legal accountants ensure that your systems comply with SRA Accounts Rules, the Legal Services Act, and all financial obligations specific to legal practices.
Their role goes far beyond standard bookkeeping. A specialised legal accountant manages client money and office accounts accurately, prepares SRA-compliant reports and reconciliations, handles tax planning, VAT advice, and regulatory filings, and supports cash flow forecasting tailored to law-firm billing cycles.They also support you in designing financial strategies that strengthen long-term stability and improve how your firm operates.
By outsourcing legal accounting, law firms can cut down on admin work, increase accuracy, and show full financial responsibility to partners, clients, and regulators.
Benefits of Professional Legal Accounting
Working with expert accountants for legal firms offers significant advantages that strengthen compliance, efficiency, and financial performance:
- Compliance & Risk Protection: Stay fully compliant with SRA Accounts Rules, anti-money-laundering requirements, and regulatory expectations. Avoid penalties, breaches, and audit issues with proactive guidance.
- Clear, Accurate Financial Reporting: We make sure your financial records are clear and accurate, helping you understand your profits, follow ongoing work, and manage partner withdrawals without confusion.
- Increased Efficiency for Lawyers: With automated tools and cloud accounting, we reduce your paperwork and help your law firm run more smoothly
- Tax Planning & Relief Maximisation: We handle corporation tax, VAT, PAYE, self-assessment, and deductions making sure you minimise liabilities while maintaining full HMRC compliance.
- Sustainable Growth Support: From start-up structuring to long-term planning, our advisory services support growth, financial forecasting, and improved cash flow management.
How to Choose the Right Legal Accountant
Finding the right accountant is essential for your law firm’s financial health, risk management, and regulatory compliance. Consider the following:
- Identify Your Firm’s Needs: Clarify whether you require basic bookkeeping, full outsourced accounting, tax planning, SRA audit preparation, or partner accounting.
- Check Legal Industry Expertise: Work with specialists who understand the wider accounting for lawyers community makes sure your firm receives guidance that is informed, up-to-date, and aligned with industry best practices.
- Evaluate Fees & Value: Our clear pricing and fixed fees make sure you get ongoing support without any surprise costs.
Our Legal Accounting Services
ABM provides a complete range of legal accounting services designed for UK law firms of all sizes:
Legal Bookkeeping & Financial Reporting
We maintain precise records of income, expenses, client transactions, and office accounts guaranteeing full compliance and financial clarity.
Annual Accounts & SRA-Compliant Reports
Preparation of year-end statutory accounts, partner accounts, and detailed SRA Accounts Rules reports.
Independent Examinations, SRA Audits & Support
Our specialists prepare firms for SRA inspections, conduct independent examinations, and manage audit documentation.
Cloud & Digital Legal Accounting
We use leading platforms such as LEAP and cloud systems to streamline processes and provide real-time financial visibility.
Payroll, Pensions & Partner Compensation
Our team handles the entire payroll process, supports partner payment planning, and makes sure everything is fully compliant with HMRC requirements.
Legal Start-Up Advisory
Expert support for new law firms, from choosing the right structure to SRA approval, accounting setup, tax registrations, and cash-flow planning.
Years of Experience
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WHO WE ARE
Our Work Process
Book online. We’ll provide you with a trusted, excellent services most accurate and fair-price service estimate.
Make an Appointment
Book an online appointment or drop a message of your business query with more details for our team.
Consult with Our Team
Our professional accounting consultants will analyze your needs and craft a personalized financial solution.
Enjoy Digital Services
We'll create an online account for you to communicate, upload docs and track your project's status.
Frequently Asked Questions (FAQs)
Legal accountants manage the specialised financial, regulatory, and compliance needs of lawyers and law firms including bookkeeping, client money handling, SRA accounts, tax planning, payroll, and financial reporting.
We specialise in accounting for legal firms, offering compliance-driven services that meet SRA requirements while improving efficiency, profitability, and long-term financial stability. Our team understands the unique pressures law firms face, from handling client money to managing partner finances. With proactive support and tailored solutions, we ensure your practice stays compliant, organised, and financially healthy.
Yes. Small law firm accounting is essential for compliance, accurate trust accounting, cash flow management, and avoiding regulatory breaches. With specialist support, you can streamline operations, prevent errors, and focus more time on client work.
They maintain accurate and compliant financial records, provide clear reporting, and ensure that all transactions, especially client money are handled correctly. Clear, reliable financial processes help build stronger client relationships and demonstrate the firm’s commitment to ethical handling of funds.
Common challenges include managing trust accounts, irregular cash flow, tax complexities, profitability analysis, and staying compliant with SRA rules.
Law firms must prepare annual statutory accounts, partner statements, and regular SRA reconciliations. Some firms also require audits depending on size and structure.
Yes. We provide full support for SRA audits, client money reconciliations, reporting periods, and regulatory compliance. Our team ensures that all documentation is prepared accurately and submitted on time. We also help identify areas of improvement to strengthen future compliance.
Contact us to schedule a consultation at ABM Chartered Accountants in Canary Wharf, London. We’ll assess your firm’s needs and provide a clear, structured plan with transparent pricing.
Trusted Legal Accounting Services For Your Firm
Contact us today to arrange a consultation and discover how ABM Chartered Accountants can help your law firm stay compliant, efficient, and financially secure.
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